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LSDefine

Simple English definitions for legal terms

Unsecured debt

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A quick definition of Unsecured debt:

Unsecured debt is a type of debt that doesn't have any property or assets attached to it as collateral. This means that if the borrower can't pay back the debt, the creditor can't take any property or assets to recover their money. Examples of unsecured debt include credit card debt and medical bills. Because there is no collateral, unsecured debt is often more expensive than secured debt, with higher interest rates.

A more thorough explanation:

Unsecured debt

Unsecured debt is a type of debt that does not require any collateral to be pledged to the creditor. This means that if the borrower is unable to make payments, the creditor cannot take any property as compensation. Examples of unsecured debt include credit card debt, medical bills, and personal loans.

  • Credit card debt
  • Medical bills
  • Personal loans

These examples illustrate unsecured debt because they are all types of debt that do not require any collateral. If a borrower is unable to make payments on their credit card debt, for example, the credit card company cannot take any property as compensation. This makes unsecured debt riskier for creditors, which is why it often carries higher interest rates than secured debt.

unseasoned issuer | Upon information or belief

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Tell us what's important to you
15:09
i dont really know how important it is to be median vs 75th of transfer gpa but id imagine keeping a B+/A- average is pretty hard in 1L and easier said than done
15:58
my bitches shaking ass with they hand out
NosyBeagle
16:49
did someone say shaking ass
16:55
im crashing out
im locking in
I'm locking [my daughter] in [the basement]
18:17
Im in the [spread] sheets locked [tf] in
what do you guys think about nova southeastern is it a decent school
AngryMiniCar
10:09
I saw someone got a full-ride in exchange for deferring. I didn't even know that was a thing? Has it happened to anyone else?
AngryMiniCar
10:12
@GatorNation: I don't know that school all that well. But it's ranked really low and usually rankings don't matter much if you're just trying to practice. But I'd be careful and look on reddit. Cause some of these schools can be highkey predatory.
AngryMiniCar
10:15
Like some schools have a conditional scholarship that they take away from you at the drop of a hat and no faculty support in 1L so a lot of people get fucked. I know someone who got screwed by Western New England. Not saying that it is just that I wouldn't think of making it my go-to without digging into it.
10:23
Ok thank you!
10:35
check the 509 report, should show bar passage rate, employment data, and percent of students that retained their scholarship after 1L
lolla after show tickets used to be $20 and now they're fucking $70
I HATE U MUSIC INDUSTRY I HATE U LIVENATION
@GatorNation: are you trying to stay/go to florida for school?
Mostlylegal
11:43
im retiring from lsd yall,
Mostlylegal
11:43
thank you all for the laughs
Mostlylegal
11:44
let this be my formal termination notice
oh no
Mostly where are you going
hey alexa play you'll be black from hamilton
**back
NosyBeagle
12:13
hamilton but he frees the slaves and has to figure out what their racial demographics are for the census
12:17
has anybody compiled the transfer median gpas for law schools anywhere
12:18
instead of having to check each schools 509
12:24
@c0bra1: not that I've seen
12:24
lame
12:24
I think the transfer reddit had a spreadsheet at one point but it's a few years old
@NosyBeagle: I almost fell out of my chair
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